Ameriprise Financial (NYSE:AMP) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Ameriprise Financial, Inc. (NYSE:AMP) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $513.81 and traded as high as $522.11. Ameriprise Financial shares last traded at $518.8070, with a volume of 548,827 shares trading hands.

Wall Street Analyst Weigh In

AMP has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Ameriprise Financial from $515.00 to $545.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Raymond James Financial increased their target price on Ameriprise Financial from $582.00 to $638.00 and gave the company a “strong-buy” rating in a research note on Friday, August 21st. Bank of America lowered Ameriprise Financial from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $570.00 to $445.00 in a report on Monday, October 19th. Morgan Stanley decreased their price target on Ameriprise Financial from $489.00 to $483.00 and set an “underweight” rating for the company in a research note on Friday, October 9th. Finally, The Goldman Sachs Group decreased their price target on Ameriprise Financial from $562.00 to $524.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $557.00.

Ameriprise Financial Trading Up 0.1%

The stock’s 50-day simple moving average is $512.71 and its two-hundred day simple moving average is $493.42. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $45.19 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 1.10 and a beta of 1.13.

Ameriprise Financial (NYSE:AMP) last posted its quarterly earnings results on Thursday, October 29th. The financial services provider reported $11.26 EPS for the quarter, missing analysts’ consensus estimates of $11.77 by ($0.51). Ameriprise Financial had a return on equity of 69.94% and a net margin of 20.99%. The business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the firm posted $9.92 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts expect that Ameriprise Financial, Inc. will post 46.43 EPS for the current year.

Ameriprise Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 9th will be issued a $1.70 dividend. The ex-dividend date is Monday, November 9th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 1.3%. Ameriprise Financial’s payout ratio is 15.30%.

Ameriprise Financial announced that its Board of Directors has authorized a stock buyback program on Tuesday, September 29th that authorizes the company to buy back $5.50 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 12.3% of its shares through open market purchases. Share buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Ameriprise Financial

Several institutional investors have recently added to or reduced their stakes in the company. Twin Lakes Capital Management LLC bought a new position in shares of Ameriprise Financial in the second quarter worth about $25,000. Balance Wealth Partners LLC bought a new stake in Ameriprise Financial during the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in Ameriprise Financial during the 2nd quarter valued at about $28,000. City State Bank boosted its position in Ameriprise Financial by 264.7% in the 3rd quarter. City State Bank now owns 62 shares of the financial services provider’s stock valued at $31,000 after buying an additional 45 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Ameriprise Financial in the 1st quarter valued at about $28,000. Institutional investors own 83.95% of the company’s stock.

Ameriprise Financial Company Profile

Ameriprise Financial is a financial services company focused on helping individuals and institutions plan for and manage their finances. Its offerings include financial planning and investment advice, brokerage services, asset management, insurance and annuity products. The company traces its roots to Investors Syndicate, founded in Minneapolis in 1894. It became an independent public company in 2005 after separating from American Express, and remains headquartered in Minneapolis. Ameriprise serves clients primarily in the United States through its network of financial advisors.